Grand View Research, Inc. - Market Research And ConsultingAccording to report published by Grand View Research, Development of technical textiles that are offer protection against high temperatures, electric arc flash discharge, molten metal impact, and acid environment is estimated to fuel the textile market growth.
According to a report, "Textile Market Size, Share & Trends Analysis Report By Raw Material (Wool, Chemical, Silk, Cotton), By Product (Natural Fibers, Polyester, Nylon), By Application (Technical, Fashion & Clothing, Household), And Segment Forecasts, 2019 - 2025" , published by Grand View Research, Inc.,
The global textile market size is projected to reach at USD 1.23 trillion by 2025 expanding at a CAGR of 4.24%, according to a new report by Grand View Research, Inc. Population growth, rising disposable income levels, and rapid urbanization in developing countries like China, India, and Mexico are likely to boost the product demand.
Increasing number of supermarkets and retail outlets in these countries is expected to drive the demand further. Growing importance of Environment, Health and Safety (EHS) systems in manufacturing sector owing to stringent regulations aimed at safety of workers in offshore industries like oil & gas is projected to boost the demand for Personal Protective Equipment (PPE).
Key Takeaways from the report:
Cotton is the most widely used raw material in the global textile industry owing to its excellent durability and resistance to dust mite and hypoallergenic
In terms of volume, polyester held a market share of 28.04% in 2018 and will grow further owing to its properties, such as high strength and excellent shrink resistance
Household application segment will register a CAGR of 3.28% from 2019 to 2025 due to rising consumer preference for textured and light absorbing fabrics in home décor
Apparel is anticipated to witness a CAGR of 4.42% from 2019 to 2025 owing to increasing demand for luxury and trending fashionable clothes
Europe is likely to witness volume growth at a CAGR of 2.32% from 2019 to 2025. Demand for silk fabrics for household and fashion & clothing applications is likely to boost the market growth
Key companies in the market are Lu Thai Textile Co., Ltd., Shandong Jining Ruyi Woolen Textile Co., Ltd., Successori Reda S.p.A., and Paramount Textile Limited
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Moreover, development of technical textiles that are offer protection against high temperatures, electric arc flash discharge, molten metal impact, and acid environment is estimated to fuel the textilemarket growth. Therefore, growing personal protective equipment market is expected to drive the demand for textile products over the projected period. The Middle East & Africa (MEA) region is projected to witness revenue growth at a CAGR of 4.19% from 2019 to 2025 owing to constant product innovations in apparels application segment. Asia Pacific is expected to register the highest CAGR during the forecast years.
Grand View Research has segmented the global textile market on the basis of raw material, product, application, and region:
Textile Raw Material Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 - 2025)
Textile ProductOutlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 - 2025)
Textile ApplicationOutlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 - 2025)
Fashion & Clothing
Ties & Clothing Accessories
Textile Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2015 - 2025)
Central & South America
Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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